We present an adaptive algorithm for low Mach number reacting flows with complex chemistry. Our approach uses a form of the low Mach number equations that discretely conserves both mass and energy. The discretization methodology is based on a robust projection formulation that accommodates large density contrasts. The algorithm uses an operator-split treatment of stiff reaction terms and includes effects of differential diffusion. The basic computational approach is embedded in an adaptive projection framework that uses structured hierarchical grids with subcycling in time that preserves the discrete conservation properties of the underlying single-grid algorithm. We present numerical examples illustrating the performance of the method on both premixed and non-premixed flames.